Wave Life Sciences (NASDAQ:WVE) Price Target Increased to $19.00 by Analysts at B. Riley

Wave Life Sciences (NASDAQ:WVE) had its price target boosted by B. Riley from $11.00 to $19.00 in a report issued on Thursday, Benzinga reports. B. Riley currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the stock. Mizuho reaffirmed an outperform rating and issued a $19.00 price target on shares of Wave Life Sciences in a report on Tuesday, June 25th. HC Wainwright increased their price objective on shares of Wave Life Sciences from $15.00 to $22.00 and gave the company a buy rating in a report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. began coverage on shares of Wave Life Sciences in a research note on Friday, September 27th. They issued an overweight rating and a $13.00 price target for the company. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Wave Life Sciences presently has a consensus rating of Moderate Buy and a consensus price target of $15.00.

Wave Life Sciences Stock Performance

Wave Life Sciences stock opened at $8.41 on Thursday. The company has a 50 day moving average price of $6.25 and a 200-day moving average price of $5.92. Wave Life Sciences has a fifty-two week low of $3.50 and a fifty-two week high of $9.92. The company has a market capitalization of $1.03 billion, a PE ratio of -16.17 and a beta of -1.10.

Wave Life Sciences (NASDAQ:WVE) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). The business had revenue of $19.69 million for the quarter, compared to analyst estimates of $24.80 million. Wave Life Sciences had a negative return on equity of 1,395.99% and a negative net margin of 66.50%. During the same period in the previous year, the company posted ($0.20) earnings per share. On average, analysts forecast that Wave Life Sciences will post -1.04 earnings per share for the current year.

Insider Buying and Selling at Wave Life Sciences

In other news, CEO Paul Bolno sold 48,366 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $5.78, for a total value of $279,555.48. Following the sale, the chief executive officer now directly owns 359,059 shares in the company, valued at approximately $2,075,361.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Plc Gsk bought 2,791,930 shares of the stock in a transaction dated Friday, September 27th. The shares were acquired at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the completion of the acquisition, the insider now directly owns 16,775,691 shares in the company, valued at approximately $134,205,528. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Paul Bolno sold 48,366 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $5.78, for a total transaction of $279,555.48. Following the sale, the chief executive officer now directly owns 359,059 shares in the company, valued at approximately $2,075,361.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 29.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Wave Life Sciences

Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in Wave Life Sciences during the second quarter worth about $668,000. Vanguard Group Inc. grew its holdings in Wave Life Sciences by 39.7% during the 1st quarter. Vanguard Group Inc. now owns 1,834,090 shares of the company’s stock valued at $11,316,000 after purchasing an additional 521,665 shares in the last quarter. Driehaus Capital Management LLC grew its holdings in Wave Life Sciences by 62.2% during the 2nd quarter. Driehaus Capital Management LLC now owns 908,096 shares of the company’s stock worth $4,531,000 after acquiring an additional 348,300 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Wave Life Sciences in the 4th quarter worth about $174,000. Finally, Capstone Investment Advisors LLC lifted its position in shares of Wave Life Sciences by 9.0% in the 1st quarter. Capstone Investment Advisors LLC now owns 54,500 shares of the company’s stock worth $336,000 after buying an additional 4,500 shares during the last quarter. Hedge funds and other institutional investors own 89.73% of the company’s stock.

Wave Life Sciences Company Profile

Wave Life Sciences Ltd., a clinical-stage biotechnology company, designs, develops, and commercializes ribonucleic acid (RNA) medicines through PRISM, a discovery and drug development platform. The company's RNA medicines platform, PRISM, combines multiple modalities, chemistry innovation, and deep insights into human genetics to deliver scientific breakthroughs that treat both rare and prevalent disorders.